This agreement does not prevent both parties from facilitating the trade in goods not mentioned in Schedules A and B. India`s exit from rcEP prompted the country to renew its interest in bilateral talks. Free trade agreements between Australia and New Zealand are being revived. India is looking for ways to resume negotiations with the EU and speed up negotiations with EFTA. A free trade agreement between India and the United States is also on the table, which has angered farmers and trade unions in their own countries because it would harm local agriculture. Both parties agree that all trade between the two countries will be conducted in accordance with import, export and foreign exchange rules applicable from time to time in their respective countries. In addition to these agreements, bilateral trade negotiations are underway with Bangladesh, Canada, Colombia, the Gulf Cooperation Council, Iran, Israel, the Economic Union of Eurasia, led by Russia, Uruguay, Venezuela and Mauritius, which would establish themselves in Africa through the African Continental Free Trade Area. Further afield, the government is at various stages of reviewing discussions with Cambodia, China, Costa Rica, Egypt, Hong Kong, Indonesia, Korea, the Philippines, SACU (South African Customs Union) and the United Kingdom. During the negotiations leading to the conclusion of the current India-China trade agreement, the two delegations recognized that the problems related to inspections, investigations, navigation, insurance and the movement of businessmen needed to be examined and resolved in a practical manner in order to better achieve the objectives of the agreement and further strengthen trade relations between the two countries.
These issues relate to specific issues rather than substantive issues, so both delegations agreed to postpone consideration of these issues to a later date. It is to be hoped that, in these subsequent discussions, our two governments will be able to find constructive solutions that will help promote and stimulate the flow of trade between our two countries. (4) It was agreed that the general lines of procedure for customs clearance and movement of goods covered in the previous paragraphs may be defined as: (i) in order to facilitate authorisation and transport, the Government of the People`s Republic of China will in advance invoke the Indian government that these goods will be transported to the Tibet region of the People`s Republic of China to determine whether transportation and authorization opportunities may be granted, given the availability of these goods in India. Issues relating to the transport of these goods are discussed and resolved between the Chinese Embassy in New Delhi and the Indian government. (ii) Goods to be cleared are registered for import at the Calcutta port customs. (iii) Subject to Indian customs provisions and the filing requested by customs authorities, goods are processed under customs for continued travel to the Tibet region of the People`s Republic of China on agreed routes. (iv) the goods are manufactured with intact seals in front of the field customs officer at the final point of departure and are made available for export to the Tibet region of the People`s Republic of China. At a time when India has negotiated free trade agreements with a number of countries/groups, including the Comprehensive Economic Partnership (RCEP), and has decided to begin the review of the India-ASEAN free trade agreement, the state of trade between India and its major free trade partners needs to be examined.